Declan Rice, Gabriel and David Raya have been shortlisted for the award after an incredible season with the Gunners, which saw the side lift the title with 85 points, seven more than runners-up, Manchester City.
Also nominated are Manchester City duo Erling Haaland and Rayan Cherki, along with Manchester United playmaker Bruno Fernandes, who registered a record 21 Premier League assists to help United finish third.
Cherki is also nominated for the PFA Young Player of the Year award alongside Manchester United and England midfielder Kobbie Mainoo, 16-year-old Arsenal star Max Dowman, Liverpool’s Rio Ngumoha and Bournemouth forward Junior Kroupi complete the shortlist.
Haaland, who scored 27 goals to win the league's golden boot, is not the favourite to win the award despite his efforts in front of goal.
Former Liverpool winger Mohamed Salah won the award last year after helping his side to the title, but he does not make the shortlist this year after a disappointing campaign.
The winners of the men’s PFA Player of the Year awards will be announced at the annual ceremony, which will be held at Manchester Opera House on Tuesday 25th August.
The Arsenal trio are the favourites to win the award, but Fernandes’ record-breaking season could cause a shock result on the night, despite the Gunners lifting the title.